Which Statement Is Correct

question 185

Multiple Choice

Which statement is correct?

• A)Accumulated Depreciation should always have a debit balance in the adjusted trial balance.
• B)Accumulated Depreciation is added to the long-term liabilities on the balance sheet.
• C)Accumulated Depreciation - Equipment represents the total cost of equipment that has expired up to the date of the balance sheet.
• D)Accumulated Depreciation is used to reveal the fair value of the related asset on the date of the balance sheet.

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Definitions:

Service Characteristics

Service Characteristics are features that differentiate services from goods, including intangibility, inseparability, variability, and perishability.

Intangible

Lacking physical substance, often referring to things that cannot be touched but have value, like brand reputation or intellectual property.

Labor Intensive

Industries or processes that require a large amount of manual labor compared to the amount of capital used or investment in machinery.

Crisis Management Program

A Crisis Management Program is a structured approach for responding to unforeseen, negative events that threaten an organization or its stakeholders, aiming at minimizing damage and restoring operations.